Economic relations between Turkey and Lithuania are set to grow with mutual benefits as the upcoming visit by Turkey's trade minister to the country is expected to pave the way.
Trade Minister Ruhsar Pekcan, along with a group of businesspeople, will pay a visit tomorrow to the Lithuanian capital Vilnius, where she is to sign the Joint Economic and Trade Committee (JETCO) protocol with Lithuanian Energy Minister and JETCO Co-Chairman Zygimantas Vaiciunas. The protocol will be the first of its kind that will be signed between the two countries.
The JETCO meeting will include topics such as the development of bilateral trade relations, investment and the contracting sector. During the meeting, measures that will be taken to increase the trade between the two countries will be discussed, along with cooperation opportunities in several fields, including energy, transportation, Small and Medium Size Entrepreneurs (SMEs), science and technology, environment, agriculture, health and tourism.
The Turkish trade minister will also attend the Turkey-Lithuania Business and Investment Forum during her visit and will hold bilateral meetings, including with Lithuanian Foreign Minister Linas Linkevicius and Transportation and Communications Minister Jaroslav Narkevich.
A Memorandum of Understanding (MoU) between Turkey's Foreign Economic Relations Board (DEİK) and its Lithuanian equivalent institution, Enterprise Lithuania, is also expected to be signed within the scope of the forum.
Trade volume between Lithuania and Turkey totaled around $562.2 million last year. Turkish contractors currently have seven contracting projects in the country worth $222.7 million.